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The International Energy Agency reported in June that renewable energy sources like solar and wind represent the fastest-growing source of energy power generation and will make up a quarter of the global power mix by 2018. The IEA projects that in 2016 renewable energy will overtake natural gas as a power source and will be twice that of nuclear, and second only to coal as a source of power. Use of renewable sources, the IEA said, is growing especially fast in China and other developing and emerging countries.

"As their costs continue to fall, renewable power sources are increasingly standing on their own merits versus new fossil-fuel generation," the report said.

The IEA is an autonomous organization which works to ensure reliable, affordable and clean energy for its 28 member countries, including the U.S., and beyond.

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